What do we mean by a neighborhood?
NeighborhoodScout® uses the official government designation for neighborhoods - the census tract.
Census tracts are small, relatively permanent subdivisions of a county that are defined by the U.S. Census Bureau in conjunction with local authorities all across the country to define real neighborhoods that are bounded to contain areas with homogeneous population characteristics (including economic status, lifestyle, and living conditions). Census tracts usually have 4,000 persons, but can range between 1,500 and 8,000 persons. This is the most fine-grained area for which detailed information is made available from the government, to protect the individual privacy of each of us. Because census tracts are based on population, they vary in size depending on the density of settlement. In urban areas, they are small, and in rural areas they can cover an entire small town or even a few small towns in very rural areas.
Since census tracts are subdivisions of a county, we did a spatial overlay of the census tracts onto city and town boundaries using a geographic information system to properly assign each census tract to its appropriate city or town. Then we named each census tract to the local colloquially recognized neighborhood name for that spot (e.g., Boston, MA (Dorchester). If there was not a name available, we named the census tract by the largest street intersection in the census tract (e.g., Worcester, MA (Lincoln St/Plantation St)

Why we don't use Zip Codes as neighborhoods
Zip codes were developed by the Postal Service for the purpose of delivering mail, but were never intended to define coherent neighborhoods. In addition, Zip Codes can have as many as 10 distinctly different census tracts contained within them. When distinct census tracts are blended together in a single Zip Code, the data reflects their average conditions and often gives a false sense of the area. The result is that potentially great matching neighborhoods can be missed, and erroneous matches can also be produced and delivered to you.
Using census tracts makes great matches possible, and helps people find the areas that are best for them and their families. Because we are committed to providing the highest possible quality and finding the neighborhoods that best meet your criteria, we use census tracts. And, as always, we show you the actual street map of the neighborhood so you know exactly where your best matching neighborhood is located.

What is a Condition Alert?

A condition alert is a condition in the neighborhood that triggers an alert. NeighborhoodScout contains condition alerts to highlight conditions that are extreme, whether good or bad. This helps answer crucial questions about the state of the neighborhood being evaluated, such as:

What are the risks of violent crime here?

Is the risk of home break-ins or other property crimes increasing?

Does real estate here hold its value?

Are the trends in local vacancies or unemployment concerning?

...and dozens more.

Information at a glance that you need to know to invest, appraise or finance a property.

Demographics

136

2
Alerts

Crimes

67

5
Alerts

Schools

65

9
Alerts

Trends & Forecasts

328

12
Alerts

About
Great Falls, VA (Town Center)

Real Estate Prices and Overview

Median real estate price in the Town Center of Great Falls is $1,328,497, which is more expensive than 99.6% of the neighborhoods in Virginia and 98.3% of the neighborhoods in the U.S.

The average rental price in Great Falls Town Center is currently $3,388, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 96.6% of the neighborhoods in Virginia.

Great Falls Town Center is a suburban neighborhood (based on population density) located in Great Falls, Virginia.

Real estate in the Town Center of Great Falls, VA is primarily made up of large (four, five or more bedroom) to medium sized (three or four bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Town Center neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Home and apartment vacancy rates are 8.9% in Great Falls Town Center. NeighborhoodScout analysis shows that this rate is lower than 49.9% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Notable & Unique: Real Estate

One way that the Great Falls Town Center neighborhood really stands out, is that it has more large 4, 5, or additional bedroom homes and real estate than 99.8% of the neighborhoods in America. When you walk or drive around this neighborhood, you'll instantly notice the size of the homes here which definitely makes a strong visual statement.

In addition, real estate in the Great Falls Town Center neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.4% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.

Furthermore, the Great Falls Town Center neighborhood has earned the amazing distinction of having one of the highest rates of detached, single-family homes of any neighborhood in the U.S. With 98.3% of the residential real estate here made up of free-standing single-family homes, there is a greater proportion of single-family homes here than in 97.5% of all neighborhoods in America.

Notable & Unique: People

Wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the Great Falls Town Center neighborhood is wealthier than 99.8% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.

In addition, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 47.7% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 99.2% of U.S. neighborhoods, where the average American neighborhood has 8.4% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Also, according to NeighborhoodScout's exclusive analysis, Great Falls Town Center is among the best neighborhoods for families in Virginia. In fact, this neighborhood is more family-friendly than 99.1% of neighborhoods in the entire state of Virginia. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Great Falls Town Center neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees, urban sophisticates and highly educated executives.

Notable & Unique: Occupations

Executives, managers and professionals make up 76.5% of the workforce in the Great Falls Town Center neighborhood which, according to NeighborhoodScout's exclusive analysis, is a higher proportion of such high-level people than is found in 99.2% of the neighborhoods in America. For this reason, this neighborhood really stands out as unique.

Notable & Unique: Modes of Transportation

In the Great Falls Town Center neighborhood, many people's commute means walking from the bedroom to the home office. NeighborhoodScout's analysis found that 12.0% of residents worked from home. This may not seem like a large number, but Scout's research shows that this is a higher percentage of people working from home than 95.0% of the neighborhoods in America. Often people who work from home are engaged in the creative or technological economy, such as is found in areas around Boston, and in Silicon Valley. Other times, people may be engaged in other businesses like trading stocks from home, or running a small beauty salon.

Notable & Unique: Diversity

Did you know that the Great Falls Town Center neighborhood has more Iranian and Austrian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.2% of this neighborhood's residents have Iranian ancestry and 1.4% have Austrian ancestry.

Great Falls Town Center is also pretty special linguistically. Significantly, 3.2% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 99.6% of the neighborhoods in America.

The Neighbors

The Neighbors: Income

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Town Center neighborhood in Great Falls are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 99.8% of the neighborhoods in America. In addition, 2.8% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 81.4% of America's neighborhoods.

The Neighbors: Occupations

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Great Falls Town Center neighborhood, 76.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 14.4% of the residents employed. Other residents here are employed in government jobs, whether they are in local, state, or federal positions (10.2%), and 4.7% in clerical, assistant, and tech support occupations.

The Neighbors: Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Great Falls Town Center neighborhood is English, spoken by 80.0% of households. Other important languages spoken here include Chinese, Persian and Spanish.

The Neighbors: Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Town Center neighborhood in Great Falls, VA, residents most commonly identify their ethnicity or ancestry as Irish (12.7%). There are also a number of people of German ancestry (12.5%), and residents who report Asian roots (12.1%), and some of the residents are also of English ancestry (10.6%), along with some Italian ancestry residents (7.2%), among others. In addition, 20.8% of the residents of this neighborhood were born in another country.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Great Falls Town Center neighborhood spend between 30 and 45 minutes commuting one-way to work (32.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (85.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

Neighborhood Real Estate Data

Raw data sources:
National Agriculture Statistics Service, U.S. Department of Agriculture, Federal Housing Finance Agency, U.S. Department of Housing and Urban Development, U.S. Bureau of the Census, U.S. Geological Service, American Community Survey.

Average Home Values

Average Home Values

Median home value is the value which has equal numbers of homes valued above and below it. The median home value is more stable than the average home value, which can be greatly affected by a few very high or very low home values.

Real Estate Tax Rate

The average effective real estate tax rate is based on the median real estate taxes paid in the neighborhood, as a percentage of the median home value in the neighborhood. Published tax rates may differ slightly from the average effective rates used by NeighborhoodScout, where NeighborhoodScout’s tax rates more closely follow the taxes paid by property owners.

Median Home Value:
Locked

Median Real Estate Taxes:
Locked
(
effective rate)

Rental Market

Average Market Rent

Average market rent is exclusively developed by NeighborhoodScout. It reveals the average monthly rent paid for market rate apartments and rental homes in the neighborhood, excluding public housing. Utility payments are not included.

Gross Rental Yield

Average annual rent as a percentage of property value. Gross rental yield is based on average market rents paid for a unit with the same number of bedrooms as the median owner occupied home.

Average Market Rent:
/ per month

GROSS RENTAL YIELD:
Locked

MEDIAN MONTHLY RENT BY NUMBER OF BEDROOMS

Setting

Setting

Land and Water

Coastal: Neighborhoods on the ocean or tidally influenced rivers.

Lakefront: The neighborhood includes shoreline on a significant body of freshwater. These are lakes large enough to include recreation and scenic areas. (Note that smaller lakes are not included, or neighborhoods that have little shoreline on a lake, relative to the size of the entire neighborhood).

Farms: Agricultural land uses are a significant part of the neighborhood and contribute to its character.

Population Density

The look and feel of the neighborhood, from high rises on the coast, to rural farmlands.

Densely Urban: With densities above 10,000 people per square mile these are some of the densest neighborhoods in the nation.

Urban: Generally between 5,000 and 10,000 people per square mile, these are full built up places although not among the most dense in the country.

Suburban: Although not necessarily outside city limits, these neighborhoods have a more generous amount of space per person with densities generally between 1,000 and 5,000 people per square mile.

Rural: Neighborhoods consist mostly of open space or agricultural areas but also generally have around 100 residents per square mile.

Remote: Neighborhoods with the fewest people per square mile in the nation, generally less than 100 per square mile.

Neighborhood Look and Feel

Housing Market Details

Housing Details

Age of Homes

The proportion of homes and apartments in the neighborhood built within a certain time period.

Type of Homes

These are the predominate forms of housing in the neighborhood. Percentages are based on the number of housing units in the neighborhood of each housing type.

Size of Homes

The predominate size of homes in the neighborhood, based on the number of bedrooms. Homes include single family houses as well as apartment and condominium units.

Special Purpose Housing

These housing types are not for sale or for rent to the general public but may have a strong influence on the character of the neighborhood.

AGE OF Great Falls, VA (Town Center) HOMES

TYPE OF Great Falls, VA (Town Center) HOMES

SIZE OF Great Falls, VA (Town Center) HOMES

SIZE OF Great Falls, VA (Town Center) HOMES

homeownership

Homeownership

Homeownership Rate

The percentage of housing units in the neighborhood that are occupied by the property owner versus occupied by a tenant. (Vacant units are counted separately.)

Vacancy Trend

The average annual change in the vacancy rate in the neighborhood during the latest five years. Trend is based on the percentage of properties that are vacant year round.

Neighborhood Demographics Data

Raw data sources:
American Community Survey, U.S. Bureau of the Census, U.S. Department of Education, 50 state departments of education, U.S. Bureau of Labor Statistics, Federal Bureau of Investigation, 18,000+ local law enforcement agencies, Federal Housing Finance Agency, U.S. Geological Service, National Agricultural Statistics Service.

Lifestyle

Lifestyle Character

There isn’t one neighborhood that is best for everyone. The best neighborhood for you may not be the best one for someone else. Similarly, what you want as a first-time home buyer may be different than what you want when you have school-aged children, or when you are nearing retirement.

The length of the bars indicate the percentage of neighborhoods in America that this neighborhood is more family-friendly than, more college student friendly than, more luxurious than, and so forth.

Special character

Special Character

People have personalities, and so do neighborhoods. A neighborhood’s character describes its personality and the feeling one gets when experiencing the neighborhood as a true resident. Quiet and sophisticated? Hip and walkable? The length of the bars indicate the percentage of neighborhoods in America that this neighborhood is more Urbane than, more Hip than, more Quiet than, more Nautical than, more Walkable than.

Age / Marital Status

Age

Age groups present in the neighborhood, as a percentage of the total population. Neighborhoods that score highest for mixed ages have the most equitable distribution across all age groups, from infants to senior citizens, all living in the same neighborhood.

Marital Status

Marital status is defined based on the percentage of residents who are 18 and over. Marital Statuses include: Married, Divorced, Widowed and Single (Never Married). (We are not able to include same-sex marriages here because of data limitations. Same-sex couple data is available under Household Type.)

Age

Marital Status

Gender Ratio

Military & College Status

Military & College Status

Percent Currently Active in the Military

These are people currently active in the military. They may live on base or off base.

Percent Currently at College / University

These are students enrolled in higher education as either undergraduates or graduate students. They may live on campus or in off campus housing.

Household Types

One person households

Same Sex Partners

Married Couple with Child

Single Parent with Child

Employment Industries in Town Center

Commute to work

Commute to Work

Means of Transport

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. The share of using each mode of transport is measured as percentage of all working adults.

Average One-Way Commute Time

The amount of time spent commuting tells a lot about a neighborhood’s access to jobs and the degree of congestion in the area. The time is calculated for all residents working outside the home.

Vehicles Per Household

The number of vehicles the average household in the neighborhood possesses is a function of wealth, space constraints, the age people of the household (e.g., households with teenagers and parents), and the availability of alternatives to driving.

The measure is defined as the number of vehicles registered per household, as a percentage of all households in the neighborhood.

Average One-way Commute Time

Means Of Transport

Vehicles Per Household

Migration & Mobility

Migration & Mobility

Percent of Residents Moving Last Year

The percent of all current neighborhood residents who were not living in the same house one year ago. Very high values show a lack of stability in the neighborhood. Very low values may represent insularity to outsiders.

Percent of Residents Born Out of State

This value will be high in neighborhoods that attract new residents from around the country, and low in places where most residents grew up within the same state.

Percent of Residents Foreign Born

Foreign Born residents have immigrated to the United States from another country and may or may not be naturalized citizens.

Race & Ethnic Diversity

Race / Ethnic Diversity

Race / Ethnicity

These are the ways neighborhood residents have self-reported their race and ethnicity to the US Census. Asian and Hispanic residents may identify with one of the more specific subcategories.

Racial Diversity

The neighborhoods with the very highest racial diversity will contain roughly equal proportions, or as close as is possible to equal proportions, across all racial groups: White, Black, American Indian, Native Hawaiian / Pacific Islander, and Asian.

Diversity Index

(100 is the most diverse)

More diverse than
of U.S. neighborhoods.

Occupations

Ancestries & Languages Spoken

Ancestries

These are the most common groups that neighborhood residents self- report as their ancestry. Places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture.

Languages Spoken

These are tabulated as the languages people preferentially speak when they are at home with their families.

Ancestry (top 20)

Languages Spoken (top 20)

Unemployment Rate

Average Income

Average Income

Income

Income is measured either on a per capita basis or median household income. Per capita is the best measure of the average spending power of each person in the neighborhood. Median household income provides the best measure of the budget of the typical family or other non-family household.

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood.

Per Capita Income

Median Household Income

Education

Education

Percent of Adults with College Degree

The percentage of adults aged 25 and older that have attained at least a 4 year college degree like a BA.

Percent of Adults with Advanced Degree

The percentage of adults aged 25 and older that have attained a graduate or professional degree above and beyond a 4 year degree, like an MA, MD, JD, MBA or PhD.

Methodology:
Our nationwide meta-analysis overcomes the issues inherent in any crime database, including non-reporting and reporting errors. This is possible by associating the 9.4 million reported crimes in the U.S, including over 2 million geocoded point locations….
Read more

Neighborhood Crime Data

FAQ on NeighborhoodScout's Crime Data

NeighborhoodScout® provides exclusive crime risk analytics for every neighborhood in America with up to 98% predictive accuracy. Crime risk indices are nationally comparable on a 1 – 100 scale, where 100 means safer than 100% of U.S. neighborhoods.

Crime risk data are updated annually. Raw crime incidents are sourced from all 18,000+ local law enforcement agencies – municipal, county, transit, park, port, university, tribal and more, assigned to localities, then built into NeighborhoodScout’s proprietary predictive models to provide a comprehensive crime risk profile for every neighborhood and address-vicinity in the U.S.

School Rating Information

School Quality Rating

Know how good the public schools are before you buy a home, invest, or relocate. You can search for and find the best schools in any area.

Only NeighborhoodScout gives you nationally comparable school rankings based on test scores, so you can directly compare the quality of schools in any location. In fact, our nationally comparable school ratings are patented.

We also give you the ability to put in the school quality and class size you want, and the search engine will return the best neighborhoods for education in a list and map your results to the neighborhood level.

We are the only information provider to have this level of search functionality. Another NeighborhoodScout exclusive.

School
Quality

(100
is best)

Better than
of U.S.
schools.

Neighborhood
School Quality Rating

Rates the quality of all K-12 public schools that
serve this neighborhood.

Neighborhood Educational Ratings

U.S. Patent 8,376,755 by NeighborhoodScout®

Only NeighborhoodScout® has nationally comparable school ratings that facilitate accurate comparison among schools, school districts, and neighborhoods in the same (or different) cities, and even between schools in different states.

Each report provides detailed information on school district quality for every neighborhood in the country and specific school attendance patterns for over 85% of U.S. neighborhoods. Use NeighborhoodScout to determine the quality of the specific schools that serve each neighborhood, whether it is served by 1 or multiple school districts.

Schools That Serve This Neighborhood

School Address Information

Depending on where you live in the neighborhood, your children may attend certain schools from the above list and not others. In some cases, districts allow students to attend schools anywhere in the district. Always check with your local school department to determine which schools your children may attend based on your specific address and your child's grade-level.

The Only Nationally Comparable School Quality Ratings Available Today

U.S. Patent 8,376,755 by NeighborhoodScout®

NeighborhoodScout® has developed the first ever nationally comparable school ratings.

The result? - neighborhood educational ratings that facilitate accurate comparison among schools, school districts, and neighborhoods in the same (or different) cities, and even between schools in different states.

It is well known that the quality of education provided by public schools varies greatly from school district to school district, and from city to city. Still further, the quality of a child's education can vary significantly from neighborhood to neighborhood within any city or town.

Scout Vision® Neighborhood Trends and Forecasts

Raw data sources:
U.S. Department of Education, 50 state departments of education, U.S. Bureau of Labor Statistics, Dow Jones S&P, Federal Bureau of Investigation, 18,000+ local law enforcement agencies, Federal Housing Finance Agency, U.S. Bureau of the Census, American Community Survey, U.S. Department of Housing and Urban Development, U.S. Geological Service, U.S. Department of Transportation, LEHD Origin-Destination Employment Statistics, Federal Highway Administration, National Agricultural Statistics.

Methodology:
Scout Vision uniquely solves for investment risk by generating Home Price Appreciation projections with unprecedented geographic granularity and predictive accuracy, for every micro-neighborhood (block group) in the U.S.
Read more

Scout Vision® Summary

Rising Star Index

Appreciation Potential

The Scout Vision® Rising Star Index rates a neighborhood’s 3 year appreciation forecast on a 1 -5 scale, from 1 (Very Low) to 5 (Rising Star). The 3 year appreciation forecast for each neighborhood is classified into 1 - 5 categories based on how this neighborhood's forecast 3 year performance compares to the real estate appreciation rates experienced in all neighborhoods nationwide for every 3 year period since 1999. This provides context for comparing what is very low, low, moderate, high, and rising star appreciation performance.

1
- Very Low
(Forecast to appreciate less than 7.5% over the next 3 years).

2
- Low
(Forecast to appreciate between 7.5% and 12.5% over the next 3 years).

3
- Moderate
(Forecast to appreciate between 12.5% and 21% over the next 3 years).

4
- High
(Forecast to appreciate between 21% and 30% over the next 3 years).

5
- Rising Star
(Forecast to appreciate 30% or more over the next 3 years).

Blue Chip Index

Investment Security

Scout Vision’s® exclusive Blue Chip Index rates a neighborhood’s past performance and current fundamentals on a 1 - 5 scale. Past performance takes into account observed home value appreciation since 2000 and current fundamentals include key ingredients that NeighborhoodScout’s analyses have found to ensure properties hold value in a downturn.

1
- Very Low
(Ranked in the bottom 10% of all neighborhoods in the nation for investment security).

2
- Low
(Ranked in the bottom 35% of all neighborhoods in the nation for investment security).

3
- Moderate
(Ranked in the middle 30% of all neighborhoods in the nation for investment security).

4
- High
(Ranked in the top 35% of all neighborhoods in the nation for investment security).

5
- Blue Chip
(Ranked in the top 10% of all neighborhoods in the nation for investment security).

#1 Resolution:
The highest resolution product in existence: forecasts to the micro-neighborhood (nearly 10X smaller than a Zip Code).

#1 Coverage:
100% seamless U.S. coverage

Know the Past: Neighborhood Home Value Trends

Scout Vision’s® Exclusive Home Appreciation Rates

NeighborhoodScout reveals the home value trends and appreciation rates for every state, city, town, neighborhood, and micro-neighborhood in America.

NeighborhoodScout has calculated and provides home appreciation rates as a percentage change in the resale value of existing homes in that city, town, neighborhood or micro-neighborhood over the latest quarter, the last year, 2-years, 5-years, 10-years, and even from 2000 to present. We show both the cumulative appreciation rate, and the average annual appreciation rate for each time period (e.g., last 5-years: 84% total appreciation, Avg. per year: 16.8%). We also show how each city, town, neighborhood or micro-neighborhood's appreciation rate compares to others across the U.S. and within the same metropolitan area or nonmetropolitan region (e.g., 9 relative to the nation, 5 relative to the Santa Cruz-Watsonville, CA Metro Area [10 is highest]). This makes comparisons of house appreciation rates equally easy for professional investors and individual homebuyers. In this example, the neighborhood is one of the highest appreciating in the nation over the last 5-years, but is only average in appreciation for the same period relative to other neighborhoods in the Santa Cruz-Watsonville, CA Metro Area.

About the appreciation rate data

Our data are designed to capture changes in the value of single-family homes at the state, city, town, neighborhood and even micro-neighborhood level. Different micro-neighborhoods within a city or town can have drastically different home appreciation rates. NeighborhoodScout vividly reveals such differences. Our data are built upon median house values per square foot in each neighborhood. The data reflect appreciation rates for the micro-neighborhood or neighborhood, not necessarily each individual property in the neighborhood.

Our data are calculated and updated every three months for each geography, approximately two months after the end of the previous quarter.

What transactions are covered in the appreciation rate data?

Neighborhood appreciation rate data are based on transactions involving conforming, conventional mortgages. Conforming refers to a mortgage that both meets the underwriting guidelines of Fannie Mae or Freddie Mac and that doesn't exceed the conforming loan limit, a figure linked to an index published by the Federal Housing Finance Board. Conventional means that the mortgages are neither insured nor guaranteed by the FHA, VA, or other federal government entity.

Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit.

Know the Past: Neighborhood Home Value Trends

Scout Vision’s® Exclusive Home Appreciation Rates

NeighborhoodScout reveals the home value trends and appreciation rates for every state, city, town, neighborhood, and micro-neighborhood in America.

NeighborhoodScout has calculated and provides home appreciation rates as a percentage change in the resale value of existing homes in that city, town, neighborhood or micro-neighborhood over the latest quarter, the last year, 2-years, 5-years, 10-years, and even from 2000 to present. We show both the cumulative appreciation rate, and the average annual appreciation rate for each time period (e.g., last 5-years: 84% total appreciation, Avg. per year: 16.8%). We also show how each city, town, neighborhood or micro-neighborhood's appreciation rate compares to others across the U.S. and within the same metropolitan area or nonmetropolitan region (e.g., 9 relative to the nation, 5 relative to the Santa Cruz-Watsonville, CA Metro Area [10 is highest]). This makes comparisons of house appreciation rates equally easy for professional investors and individual homebuyers. In this example, the neighborhood is one of the highest appreciating in the nation over the last 5-years, but is only average in appreciation for the same period relative to other neighborhoods in the Santa Cruz-Watsonville, CA Metro Area.

About the appreciation rate data

Our data are designed to capture changes in the value of single-family homes at the state, city, town, neighborhood and even micro-neighborhood level. Different micro-neighborhoods within a city or town can have drastically different home appreciation rates. NeighborhoodScout vividly reveals such differences. Our data are built upon median house values per square foot in each neighborhood. The data reflect appreciation rates for the micro-neighborhood or neighborhood, not necessarily each individual property in the neighborhood.

Our data are calculated and updated every three months for each geography, approximately two months after the end of the previous quarter.

What transactions are covered in the appreciation rate data?

Neighborhood appreciation rate data are based on transactions involving conforming, conventional mortgages. Conforming refers to a mortgage that both meets the underwriting guidelines of Fannie Mae or Freddie Mac and that doesn't exceed the conforming loan limit, a figure linked to an index published by the Federal Housing Finance Board. Conventional means that the mortgages are neither insured nor guaranteed by the FHA, VA, or other federal government entity.

Mortgages on properties financed by government-insured loans, such as FHA or VA mortgages, are excluded, as are properties with mortgages whose principal amount exceeds the conforming loan limit.

Time Period

Total Appreciation

Avg. Annual Rate

Compared To
Metro*

Compared To
America*

3 Year Forecast:
2020 Q1 - 2023 Q1

Latest Quarter:
2019 Q3 - 2019 Q4

Last 12 Months:
2018 Q4 - 2019 Q4

Last 2 Years:
2017 Q4 - 2019 Q4

Last 5 Years:
2014 Q4 - 2019 Q4

Last 10 Years:
2009 Q4 - 2019 Q4

Since 2000:
2000 Q1 - 2019 Q4

* 10 is highest

Key price drivers at this location

Pros

Factors likely to drive home values upward over the next few years or indicators of upward trends already underway.

Cons

Impediments to home value appreciation over the next few years or indicators of negative trends already underway.

Scout Vision® Proximity Index

Price advantage over surrounding neighborhoods

Price Advantage

Scout Vision’s® exclusive Price Advantage Score compares home values per square foot in the neighborhood to other neighborhoods nearby. The average nearby price per square foot is based on other locations a short drive away from the neighborhood.

Neighborhood price per sqft

Average Nearby Home Price per sqft

Access to high paying jobs

Jobs within an hour

The Scout Vision® Jobs Score Index rates neighborhoods on a 1-5 scale according to how many high paying jobs are within commuting range of the location. We consider short, medium and longer one way commute times of 15, 30, and 45 minutes and sum up the total number of jobs paying at least $75,000 within each. Then every neighborhood is ranked relative to both other neighborhoods in the region and all other neighborhoods in the nation.

1
- Limited
(On average in the bottom 20% for job accessibility).

2
- Below Average
(On average in the bottom 40% for job accessibility).

Scout Vision® REAL ESTATE TRENDS

Scout Vision® REAL ESTATE TRENDS

Homeownership Trend

The average annual change in homeownership rates in the neighborhood during the latest five years.

Vacancy Trend

The average annual change in the vacancy rate in the neighborhood during the latest five years. Trend is based on the percentage of properties that are vacant year round.

Rental Price Trend

The market rental prices may be low, but are they going up? We calculate rental price trends as the average annual change in market rent paid in the neighborhood over the latest 5 years.

Avg. Annual Homeownership Trend
Over last 5 years

Avg. Annual Rent Price Trend
Over last 5 years

Avg. Annual Vacancy Trends
Over last 5 years

Scout Vision® Crime Trends and Forecast

Scout Vision® Education TRENDS

Scout Vision® Education TRENDS

Avg. Annual Change in College Graduates (over last 5 years)

We measure the average annual increase or decrease in the percentage of college graduates living in a neighborhood over the most recent 5 years. College graduates are defined here as adults 25 and older with at least a 4-year college degree.

Avg. annual change in K-12 school performance (over last 5 years)

We analyze school test performance for all schools that serve this location, and calculate the average annual increase or decrease in the school performance index, based on the percentage of students testing proficient or advanced in standardized testing.

Avg. annual change in college graduates
Over last 5 years

Avg. annual change in K-12 school performance
Over last 5 years

Scout Vision® Economic TRENDS

Scout Vision® Economic Trends

Avg annual change in per capita income (over last 5 years)

We measure the average annual increase or decrease in per capita income in the neighborhood over the most recent 5 years.

Avg annual change in household income (over last 5 years)

We measure the average annual increase or decrease in household income in the neighborhood over the most recent 5 years.

Avg annual change in unemployment rate (over last 5 years)

We measure the average annual increase or decrease in unemployment in the neighborhood over the most recent 5 years.

Avg annual change in per capita income
Over last 5 years

Avg annual change in household income
Over last 5 years

Avg annual change in unemployment rate
Over last 5 years

Scout Vision® Population Trends

Distance from Location

Population 5 years ago

Current Population

Percent Change

Half Mile

1 Mile

3 Miles

5 Miles

10 Miles

15 Miles

25 Miles

50 Miles

Scout Vision® REGIONAL HOUSING MARKET ANALYSIS

Washington, DC-VA-MD-WV Metro Area regional investment potential

Regional Investment Potential

The Scout Vision® Regional Investment Index rates a region’s 3 year appreciation forecast on a 1 -5 scale, from 1 (Very Low) to 5 (Rising Star). The 3 year appreciation forecast for each region is classified into 1 - 5 categories based on how this region’s forecast 3 year performance compares to the real estate appreciation rates experienced in all regions nationwide for every 3 year period since 1999. This provides context for comparing regional performance against historical benchmarking.

1
- Very Low
(Forecast to depreciate over the next 3 years).

2
- Low
(Forecast to appreciate between 0.0% and 10.0% over the next 3 years).

3
- Moderate
(Forecast to appreciate between 10% and 20% over the next 3 years).

4
- High
(Forecast to appreciate between 20% and 30% over the next 3 years).

5
- Very High
(Forecast to appreciate 30% or more over the next 3 years).

Housing Affordability Trends:
Washington, DC-VA-MD-WV Metro Area

Housing Affordability Trends

The Scout Vision® Regional Housing Affordability Index is the ratio of the years of median household income in the region, to the median house value in the region. As this ratio becomes high, it becomes more difficult for local wages to support housing prices. As the Index approaches historical highs, it can be a warning of an overheated housing market that may be due for a pricing correction.

Because demand varies from region to region and the proportion of household income expected to be spent on housing also varies greatly from region to region, the Scout Vision Housing Affordability Index is best used to compare affordability in a region over time to assess overheated markets, rather than using the Index to compare different regions at one point in time to assess market overheating. The Regional Housing Affordability Index is reassessed and recalculated annually.

Years of average household income needed to buy average home

Region's Historical Low

Region's Historical High

Current

Regional 1 and 2 Year Growth Trends

Regional 1 and 2 Year Growth Trends

The Scout Vision® Regional 1 and 2 Year Growth Trends are a set of exclusive assessments of important conditions which influence a region’s housing market, prices, security, and economic outlook.

Regional Trend

Last 2 years

Compared to Nation*

Last 1 year

Compared to Nation*

Population Growth

Job Growth

Income Trend (Wages)

Unemployment Trend

Stock Performance of Region's Industries

Housing Added

Vacancy Trend

* 10 is highest

Disclaimer
Forecasts of potential occurrences or non-occurrences of future conditions and events are inherently uncertain. Actual
results may differ materially from what is predicted in any information provided by Location Inc. Nothing contained in or
generated by a Location Inc. product or services is, or should be relied upon as, a promise or representation as to the future
performance or prediction of real estate values. No representation is made as to the accuracy of any forecast, estimate, or
projection. Location Inc. makes no express or implied warranty and all information and content is provided "As is" without
any warranties of any kind. Location Inc. expressly disclaims any warranty of accuracy or predictability, and any warranty of
merchantability and fitness for a particular purpose. Location Inc. further disclaims any liability for damages, loss, or injury
arising out of the use this site and the data. All risks associated with using the site and the data are borne by the user at
user's sole cost and expense. By using the site you agree to our
Terms of Use.

comparable neighborhoods nearby

Comparable Neighborhoods Nearby

SCOUT’s patented match algorithm identifies the most similar neighborhoods to a subject location, and quantifies the similarity to the subject location. This allows analysts to identify the most similar neighborhoods in a local market area for appraisals, investments, and research.

The algorithm uses 273 neighborhood conditions, identifies the dominant dimensions underlying the conditions and calculates the similarity. This captures the true culture and character of locations, economic conditions, and trends.

The closer to 100% means the locations are nearly identical. 80% is a very good, but not excellent match, and so forth.